I agree that people will eventually start to push back. I however do not think China will ever work their way into the American full-size truck or SUV market, most people in that market are ardently loyal to Chevy, Ford, and Dodge (Ram). The exception to the rule is Toyota, but the only reason Tundras sell as well as they do is perceived bulletproof reliability.
Breaking the addiction of insanely high car prices
Why Is Inflation So Stubborn? Cars Are Part of the Answer. (yahoo.com)
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"dealer markups accounted for 35% to 62% of total new-vehicle consumer inflation from 2019 to 2022"
I still cannot believe people were willing to pay more than what cars were actually worth.
"Automakers, loath to relinquish profits enabled by scarcity, started talking about exercising “discipline” in their production targets."
No wonder we're still seeing relatively empty car lots.
"According to TransUnion, the average monthly payment for a new car rose to $736 in the first quarter of 2023, from $585 two years before. Used cars average $523 per month, up $110 over the same period."
And the problem is prices never really come back down. They might normalize for a while, but we'll continue to see an upward trend. Pretty soon, $100K trucks will be the norm.
"dealer markups accounted for 35% to 62% of total new-vehicle consumer inflation from 2019 to 2022"
I still cannot believe people were willing to pay more than what cars were actually worth.
"Automakers, loath to relinquish profits enabled by scarcity, started talking about exercising “discipline” in their production targets."
No wonder we're still seeing relatively empty car lots.
"According to TransUnion, the average monthly payment for a new car rose to $736 in the first quarter of 2023, from $585 two years before. Used cars average $523 per month, up $110 over the same period."
And the problem is prices never really come back down. They might normalize for a while, but we'll continue to see an upward trend. Pretty soon, $100K trucks will be the norm.
